Ukraine harmonizes custom duties in accordance with WTO norms
One June 15th, the President of Ukraine, Victor Yuschenko signed changes to a law on custom duties, which states that the Ukrainian statistics system will be applicable to world norms in that all system variances as to international classification of goods are to be removed. The law declares that the classification of goods for the purposes of Ukrainian custom duties is the Ukrainian classification of goods on external economic activity, based on a harmonized system of goods description and codes.Besides, the law anticipates that the Verkhovna Rada will ratify new export duties as determined by the custom duties of Ukraine, taking into account the input of the Cabinet of Ministers. The law, signed by the President, will come into effect on January 1st , 2008.
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